Why do people always disappear silently after the cryptocurrency circle retreats? Sometimes when I stare at the market late at night, I always think of my former friends who entered the cryptocurrency circle together, as well as my recent friends who have recharged the cryptocurrency circle. Some have multiplied tenfold and are still fighting on the field, while others have permanently withdrawn from the battlefield after a 30% drawdown. The cruelest truth is: a bear market won't kill you, but a pullback will^_^ Three types of people who have disappeared: 1. High leverage gamblers (how arrogant they are when adding positions with floating profits, and how cold they are when sending liquidation messages) 2. Late stage FOMO patients (shouting 'this time is different' while on the mountaintop, only realizing it's always the same after a deep drop) 3. The hunter who ran out of bullets (All in black swans like 519 and 312, digging halfway up the mountain) Characteristics that can survive: 1. Always keep the last 20% of bullets (extreme market conditions are the true wealth distributor) 2. Fasten the safety belt for the position (strict stop loss line is more effective than seeking divine worship) We are not playing against the K-line, we are fighting against the weaknesses of human nature. Those disappearing figures were not defeated by the market, but by hand tremors, the zero after the leverage ratio, and the moment when the trading software was closed at the waterfall. Remember: a bull market is a reward, a bear market is a gift, and a volatile market is the true touchstone. When others disappear in retreat, all you have to do is live until the next dawn.